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Hello steemians
It's a new day. What are your plans on building your SP this week and why is it essential? Due to my busy schedule, I set asides time to create contents and participate in contests that would help me build my steem power as a non-investor. Are there benefits of investing in Steem for the long term? Sure Before mentioning the benefits of investing in Steem for the long term as the contest demanded, I'll love to acknowledge the contest host @ridwant. Here are benefits of investing in Steem for the long term.
Investing in Steem for the long term may provide several benefits, including:
Potential for appreciation in value: Like any cryptocurrency, Steem's value can fluctuate, but if the demand for the coin increases, so will its value.
Diversification: Adding Steem to a portfolio can help diversify investments, potentially reducing overall risk.
Potential for earning rewards: Steem is the native cryptocurrency of the Steemit platform, which rewards users for creating and curating content. Holding Steem can potentially earn rewards in the form of additional Steem.
Potential for community growth: Steemit is a social media platform built on blockchain technology, and as the platform grows, so too may the value of its native cryptocurrency, Steem.
| Benefits of power up | Emphasis |
|---|---|
| Increased Voting Power | Powering up Steem increases an individual's voting power, which allows them to have a greater influence on the content that appears on the Steem blockchain. This is because voting power is directly proportional to the amount of Steem Power an individual holds. |
| Higher Earnings Potential | Holding Steem Power allows individuals to earn a larger share of the rewards generated by their content and curation activities. This is because the rewards are distributed proportionally to the amount of Steem Power held by an individual. |
| Increased Curation Rewards | Powering up Steem also increases an individual's curation rewards. This is because curation rewards are distributed based on the proportion of an individual's voting power in relation to the total voting power of all voters. |
| Reduced Volatility | Powering up Steem reduces the volatility of the Steem token. This is because powering up locks up Steem for a period of time, reducing the overall supply of the token and making it less susceptible to market fluctuations. |
| Access to Additional Features | Holding a certain amount of Steem Power grants access to additional features on the Steem blockchain, such as the ability to create a custom JSON metadata and the ability to vote for witnesses. |
| Long-term Investment Potential | Powering up Steem can be seen as a long-term investment. The value of Steem Power increases as the Steem blockchain grows and becomes more widely adopted. |
| Ability to Participate in Community Governance | Powering up Steem allows individuals to participate in community governance( moderator or curators). This is because a certain amount of Steem Power is required to vote on community proposals and changes to the Steem blockchain. |
| Supporting the Steem Ecosystem | Powering up Steem helps to support the overall health and growth of the Steem ecosystem. This is because a larger amount of Steem Power held by individuals and communities helps to provide stability and security to the Steem blockchain. |
This screenshot shows I've powered up 4 steems to hit 197 SP
- To power up on Steem, you need to convert your liquid STEEM into Steem Power (SP).
- This can be done by going to your Steemit wallet, and selecting the "Power Up" option.
- You will then be prompted to enter the amount of STEEM you want to convert and the transaction will be processed.
In summary, powering up Steem can provide benefits such as increased voting power, higher earnings potential, reduced volatility, access to additional features, increased security, long-term investment potential, reduced fees, ability to participate in community governance, and support to the Steem ecosystem.
Cc,
@ridwant
@disconnect
I invite @davidmarkgeorge @imohmitchel and @bossj23
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
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